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IRAS fourth edition of the VCC tax guide covers foreign-sourced income
By VCCGuide Editorial
Reviewed by the fund management team at JCube Capital Partners (JCP), a Monetary Authority of Singapore capital markets services licence holder (Licence No. CMS100895).
What changed?
IRAS published the fourth edition of its VCC tax framework e-Tax Guide on 22 April 2026. It added guidance on the exemption for foreign-sourced income as it applies to sub-funds of a VCC, included section 92K of the Income Tax Act among the provisions that do not apply to VCCs, updated the non-applicable-provisions table, and reflected the Budget 2026 corporate income tax rebate and the 7 April 2026 Ministerial Statement.
Why it matters for fund managers
This is the current, operative IRAS guidance on VCC and sub-fund taxation. The foreign-sourced income guidance is directly relevant to sub-funds holding offshore assets — a common pattern for Singapore-domiciled funds investing regionally.